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SK JAPAN CO., LTD., First Half Ordinary Profit Decreases by 9%

Fri Oct 11, 2024 2:00 pm JST Earnings

7608 SK JAPAN CO., LTD. 【J-GAAP】

Earnings Report

SK JAPAN CO., LTD. <7608> [TSE-S] announced its financial results in the afternoon session on October 11th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 9.2% from the same period last year to 590 million yen. However, The progress rate against the 1 billion yen full-year plan was 59.0%, also surpassing the five-year average of 55.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to decrease by 3.1% from the same period last year to 410 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 281 million yen, a 19.0% decrease compared to the same period last year. The operating profit margin decreased from 11.5% in the same period last year to 8.3%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Aug, 2022 4,508 335 344 238 28.9 62.7 Oct 14, 2022 J-GAAP
Mar - Aug, 2023 5,184 595 650 452 54.6 60.6 Oct 13, 2023 J-GAAP
Mar - Aug, 2024 6,324 585 590 417 50.1 59.0 Oct 11, 2024 J-GAAP
YoY +22.0% -1.7% -9.2% -7.7% -8.1%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 Guidance ー ー ー ー － 10 Apr 12, 2024 J-GAAP
Mar - Aug, 2024 Results 6,324 585 590 417 50.1 10 Oct 11, 2024 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2023 5,428 397 423 303 36.5 10 Apr 12, 2024 J-GAAP
Sep - Feb, 2024 Guidance 4,676 415 410 283 33.8 15 Oct 11, 2024 J-GAAP
YoY -13.9% +4.5% -3.1% -6.6% -7.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2023 9,731 577 549 379 45.9 12 Apr 14, 2023 J-GAAP
Feb, 2024 10,612 992 1,073 755 91.0 17 Apr 12, 2024 J-GAAP
Feb, 2025 Guidance 11,000 1,000 1,000 700 83.6 25 Apr 12, 2024 J-GAAP
YoY +3.7% +0.8% -6.8% -7.3% -8.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2023 2,750 317 347 242 29.2 11.5 Oct 13, 2023 J-GAAP
Sep - Nov, 2023 2,484 213 219 151 18.2 8.6 Jan 12, 2024 J-GAAP
Dec - Feb, 2023 2,944 184 204 152 18.3 6.3 Apr 12, 2024 J-GAAP
Mar - May, 2024 2,811 292 309 222 26.8 10.4 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 3,513 293 281 195 23.5 8.3 Oct 11, 2024 J-GAAP
YoY +27.7% -7.6% -19.0% -19.4% -19.7%

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